Fannie Mae released its Comprehensive Income Statement for the fourth quarter of 2013, noting a comprehensive income of $6.6 billion, the eighth consecutive quarterly profit for the government sponsored enterprise. The company's annual net income was $84 billion. Fannie Mae credits the strong earnings in the fourth quarter of 2013 to stable revenues, credit-related income, and fair value gains.
The company will pay $7.2 billion in dividends on senior preferred stock to the U.S. Department of the Treasury. The payment will mark the first time the company's cumulative dividend payments to the Treasury will exceed total draws. The March dividend payment will push Fannie Mae's total paid dividends to $121.1 billion, eclipsing the Treasury's total draw of $117.1 billion. Fannie Mae has not received Treasury funds since the first quarter of 2012.
The Mortgage Bankers Association released its National Delinquency Survey Thursday, noting the seasonally adjusted rate for delinquent mortgages fell in the fourth quarter of 2013 to 6.39%, its lowest level since 2008. Rates for loans in the foreclosure process declined to 2.86%, down 22 basis points from the third quarter, and down 88 basis points from last year. New foreclosure rates were listed at .54 percent, the lowest percentage in 8 years.